So far in 2019, the median price of all types of properties has increased by 8%. The average price of properties and total sales in dollars are also increasing.
There were also more properties sold than at this time in 2017 and 2018. The number of properties sold above asking price is also up compared to the last two years. We are also seeing that the market is moving very quickly: properties are sold within an average of 19 days!
Let’s take a closer look at the underside of last month’s Montreal real estate market.
Data from August 2019 in Montreal, by neighbourhood
Plexes: 17 plexes were sold in this neighbourhood, 71% of which were below the asking price. Plexes are sold on average within 45 days at a median price of $975,000.
Single-family homes: 6 single-family homes were sold, on average within 42 days, for a median price of $838,000.
Condominiums: 63 condominiums sold, 68% of which were below the asking price. Condominiums sell within an average of 47 days.
Plexes: 21 plexes were sold in this area, of which 28% were above the asking price, 5% at the asking price and 67% below the asking price. Plexes are sold at a average median price of $649,000 in 55 days.
Single-family homes: 10 properties sold, 90% of which were below the asking price, on average within 44 days. The median price of single-family homes in Rosemont is $750,000.
Condominiums: 46 condominiums were sold in Rosemont, 34% of which were above asking price, 21% at the asking price and 45% below the asking price. They sell for the median price of $373,600 on average within 58 days.
Plexes: 25 plexes were sold in this area in August, 72% of which were below the asking price. Villeray plexes sell for $500,000 at the median price, on average in 46 days.
Single-family homes: only 5 single-family homes were sold in this neighbourhood at least in August, at a median price of $620,000.
Condominiums: 19 condominiums were sold, 47% of which were above asking price and 37% below the asking price. They sell in 28 days on average, at a median price of $388,000.
In general, there are longer sales delays and more sales below the asking price than in recent months, when the market situation was exceptional for sellers.
Would you like to take advantage of the current market’s dynamic growth? Contact one of our brokers now, with no obligation on your part.